Internet advertising is increasing in terms of overall relevance at China's Focus Media (NSDQ: FMCN). The Shanghai-based multi-platform digital media companyits main business is out-of-home advertisingreported $76.1 million of its $211.7 million total revenue came from internet ads, roughly one-third compared to one-quarter of in Q207. Revenues from internet advertising rose 201 percent over $26.4 million in Q207 and 53.6 percent over Q1's $51.4 million.
Discontinuing "push" mobile: Focus Media took a big hit in mobile advertising earlier this year when it agreed to ban mobile ad spamslashing expected 2008 mobile revenue by $40 million. In the release, the company says it has disposed of or is discontinuing nine subsidiaries focused on the "push based mobile advertising business." Revenue for those operations dropped to $400,000 in Q2 from $11.3 million in Q1.
COO out: The company also announced that COO Diana Chen left for "personal reasons" and will not be replaced in the near future.
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By Staci D. Kramer